Graham (NYSE:GHM) Stock Price Target Cut by JPMorgan Chase & Co.

Graham (NYSE:GHM) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $120.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.37% from the stock’s previous close.

A number of other research analysts also recently commented on GHM. William Blair started coverage on shares of Graham in a research report on Monday. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Oppenheimer cut their price objective on shares of Graham from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.67.

Graham Trading Down 0.2%

Shares of Graham stock opened at $77.90 on Friday. The stock’s fifty day moving average price is $80.15 and its 200-day moving average price is $91.09. The firm has a market cap of $914.51 million, a P/E ratio of 67.74 and a beta of 1.16. Graham has a 12 month low of $52.57 and a 12 month high of $125.82.

Graham (NYSE:GHM) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.18. Graham had a net margin of 5.05% and a return on equity of 11.56%. The company had revenue of $69.76 million during the quarter, compared to analyst estimates of $71.07 million. Analysts forecast that Graham will post 1.90 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Graham during the 2nd quarter worth $110,235,000. William Blair Investment Management LLC bought a new stake in Graham during the second quarter valued at about $45,159,000. De Lisle Partners LLP purchased a new position in Graham in the second quarter valued at about $11,141,000. Philadelphia Trust Co. grew its stake in Graham by 36.0% in the third quarter. Philadelphia Trust Co. now owns 87,531 shares of the industrial products company’s stock valued at $7,555,000 after purchasing an additional 23,157 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in Graham by 0.8% in the second quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company’s stock valued at $10,535,000 after purchasing an additional 659 shares during the last quarter. 69.46% of the stock is owned by institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based designer and manufacturer of engineered equipment and systems for the defense, space, and commercial markets. The company develops thermal-management, fluid-handling, vacuum, and power-generation technologies used in demanding industrial and government applications.

Graham supplies equipment for naval vessels, including surface ships and submarines, as well as systems supporting aerospace and space programs. Its products and capabilities include condensers, heat exchangers, vacuum equipment, steam and gas ejectors, cryogenic systems, and integrated propulsion and power solutions.